The effect of the raise in the taxes imposed by the United States of America will be seen especially in that we will be invaded by goods from Asia which will suffocate the European market, as the US is no longer an outlet for Asian exports, chairman of Alro's Board of Directors Marian Nastase told an energy conference on Monday.
"That's why tariff wars are generally called wars (...), because of their negative effects. They are a bad thing, they affect us. They affect us, most of all not necessarily because we cannot sell more on the American market, but because we will be invaded by goods from Asia, mainly Indonesia and China, which will suffocate the European market as they no longer have the United States as an outlet," Nastase explained at the Energy Forum organized by Financial Intelligence.
He added that for Alro, the new tariff policy imposed by the Trump administration may also represent an opportunity to increase sales on the United States market, since quotas have been canceled.
"Which is very important for us. Alro had 500 tons per year with zero export taxes to the United States. One of our European competitors had 10,000 tons of exports per year with zero taxes. So that gives us an advantage from a certain perspective. But, as I told you, we will be flooded by goods from the East at dumping prices," said Nastase.
In his opinion, this tariff policy is actually intended to bring everyone to the negotiation table.
"It's an evolving situation. President Trump knows that we don't live in the '70s anymore, (...) we are living in the technological age and this barrage of taxes is actually intended to bring everyone to the negotiation table. (...) What used to be done in a year, now has to be done in a month. Which is exactly what's happening," Nastase pointed out.
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